TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin Cash Price Analysis: BCH/USD marinates the next rally targeting $300

  • Bitcoin Cash pushes recovery with the first target at $220.
  • The 23.6% Fibo resistance must come down for BCH to rally towards $250 and $300 respectively.
Bitcoin Cash Price Analysis: BCH/USD marinates the next rally targeting $300
John IsigeJohn IsigeFXStreet

Bitcoin Cash is turning bullish amid expanding volatility. The general trend is the market sideways. Trading activity over the weekend remained drab. BCH/USD bulls tried to push for recovery towards $220 but stalled at $216.

While teetering at $212, BCH is settling above the moving averages. The confluence formed by the 50 SMA and the 100 SMA at $212 is key to ensuring the correction towards $220 continues.

The RSI and the MACD suggests that the sideways trading could last though the next sessions on Monday. However, a break above the 23.6% Fib level taken between the last swing high of $308.13 to a swing low of $198.61 will ignite the much awaited rally above $250 and heading to $300.

BCH/USD 1-hour chart

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Editor's Picks

DeFi Development Corp launches CHAD as first SOL-backed Digital Credit instrument

DeFi Development Corp launches CHAD as first SOL-backed Digital Credit instrument

DeFi Development Corp. has launched CHAD, a variable-rate perpetual preferred stock backed by the company’s Solana (SOL) treasury strategy. DFDV stated that it closed an underwritten public offering of its Variable Rate Series C Perpetual Preferred Stock, generating approximately $11 million in gross proceeds.

Pi Network Price Forecast: PI rebound holds as momentum improves

Pi Network Price Forecast: PI rebound holds as momentum improves

Pi Network (PI) extends its recovery on Wednesday, trading above $0.098 after finding support around the 50-day EMA earlier this week. The rebound comes as the Pi Core Team highlights the importance of strengthening its developer ecosystem to expand application-level utility across the network.

Top 3 Price Prediction: BTC takes a breather, ETH and XRP maintain bullish footing

Top 3 Price Prediction: BTC takes a breather, ETH and XRP maintain bullish footing

Bitcoin, Ethereum, and Ripple are trading with a broadly constructive tone on Wednesday despite BTC's mild pullback over the past two days. The Crypto King holds above $78,000; ETH and XRP remain strong above key Exponential Moving Averages, keeping their upside prospects intact.

Bitcoin remains highly sensitive to macro signals amid changing derivatives narrative

Bitcoin remains highly sensitive to macro signals amid changing derivatives narrative

Bitcoin’s (BTC) sensitivity to US economic data has become increasingly evident this year. As the market approaches several important data dumps this week, BTC traders are keenly aware of the significance just like their counterparts in TradFi. And just like the stock market, crypto traders are focused squarely on the US central bank's interest rate policy.
Bitcoin: Gearing up for a sharp move

Bitcoin: Gearing up for a sharp move

Bitcoin (BTC) is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC Exchange Traded Funds (ETFs) on track to record a third straight week of inflows.